Millheim Journal. [volume] (Millheim, Pa.) 1876-1984, 1887-10-20
ToRriLiTA GOLD AND SILVER
MINING COMPANY.
10 Mo Public =:

| Nheh the STOCK OF the ToTtilita
Gold and Silver Mining Company was
placed in my hands, TO be sold, A few
months ago, the property was entirely
unknown. The former owners had
quietly developed the mines, and ascer-
tanned that they possessed great value,
before they sought u dollar of outside
capital. They then decided To raise
money To extend their work, and oh
tain the results which they saw In sight,
and for this purpose Mr.. ID. Il. Elmore,
who had superlntended the develop
ment of the mines, and knew their val
ne, came TO New York, last February,
as the representative of the owners. A
Company WAS formed, md was re-
questcd 10 take the Presidency, and
raise the money To put in additional
machinery, etc. After carefully iuveS-
tigatlrg tie enterprise, which was pro-
nounced 10y experienced mining men as
one of the best properties eyer offered
in the New York market, and satisfy
ing myself that it was meritorious, |
consented, and began my work. at
once found the greatest prejudice IL
gainst mining stocks in the public mind
that could be imagined. Almost every
body had lost money IN them, owing 10
the methods that had been employed to
sell them. These methods were TO or
ganize companies, place the stock on
the Exchanges, and create fictitious
values 10y "washed sales" The public
were kept in ignorance of the value of
the properties, and in nine cases out of
ten,as the records Of the Exchange will
show, the patty who held the stock last
had only II printed certificate TO show
for his investment. Such proposals
were made 10 us by two leading bank
ing houses.
Instead of making the stock Of our
Company gigantic speculation, we de-
termined to sell it 10y private subscrip-
tion. We could only do so 10y exten-
sively advertising. There was no bet
ter way OF making our property known
than through the newspapers, and by
this means we gave every body an OPP
portunity TO know just what it is. We
haye simply employed the regular meth
ods that are applied in all Legitimate
business. that Of making an article
known that is for sale, and employing
legitimate means TO that end. The
time for dealing in stock on the EX-
change to our mind, is when its value
is known To the public, that there may
be natural, well-founded demand for
it, and that time is coming forToRTIL-
TIA.
The entire capital stock was issued
in payment for the mines, and pur-
chased by n Syndicate of which | have
the management, and we entered into
obligations 10 raise :he money for de-
velOping and improving the property,
and our first interest is To make il as
valuable and productive as possible
This Syndicate has decided TO place but
two lilths Of the total capital on the
market, or 100000 shares in all, and 10
hold the remainder for the present. The
Syndicate agrees TO and with the pur.
chasers of these 200, 900 shares of stock,
including all who have bought hereto
fore, that they shall receive dividend
of % per cent. per year before the other
500 900 shares receive any dividend and
that it shall participate equally in all
earnings aboye that figure: this requires
the property to earn but 100000 per
year, while with the additional machin-
cry that Will at once be put upon the
mines, it is believed that the stock will
easily earn from 50 to 100 per cent. per
annum, within few months.
As the mines are developed addition
al mills will be put up, and the time
will come when 100 stamps will be
worked, for the mines contain rich ore
in ineXhaustible quantities. The pos.
sibiities of the enterprise are beyond
compotatlon. and it will continue to be
managed on business basis for the at
tainment of the best possible results TO
all. The fact is, we have great prop
erty, and we can afford to represent it
as such, and labor to prove it. We
shall demonstrate that we have sound
clean cut, honest enterprise, unlike the
mining schemes that have caused dis
tress among investors.
1t has been asked why we sell any of
our stock if our enterprise is so val
liable. Because we haye the stock and
others have the money. The property,
in the first place, has had $l75, 900 spent
upon its development, and every dollar
Of this was taken out of the mines,
something that few other properties
can show. We want the money for
mills, ,machnery, ,hoisting works pumps.
tunneling, ETC., and can only get it by
selling stock. For this money we are
willing to part with a portion of the
stock, and give others an opportunity
to participate IN the enterprise. If we
could hold all the stock and make the
mines as productive as they are suscep-
tible of being made, we would be only
too willing to do so.
The mines will be fully developed, the
machinery supplied, mills erected and
everything done to improve their pres
| ent condition out Of the net receipts of
these 100000 shares before dollar of
profit is taken by the Syndicate. We
came upon the market with our stock
at the very worst time, and at the dull
est season OF the year. We have passed
successfully through three financial
crises, and yet we have not only main-